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Question 2 Rain or Shine Ltd. is reporting the following information for December 31, 2019. Prepare the cash flow statement for December 31, 2019 using
Question 2 Rain or Shine Ltd. is reporting the following information for December 31, 2019. Prepare the cash flow statement for December 31, 2019 using the direct method, under ASPE. Payments to suppliers Interest received on investments Payment of interest Depreciation expense Payment of income taxes Collection of dividend revenue Payment of salaries and wages Cash sales Loss on sale of capital assets Proceeds from issuance of shares Acquisition of equipment Net income Collections of accounts receivable Cash balance: December 31, 2018 Cash balance: December 31, 2019 $ $ $ $ $ $ $ $ $ $ s $ $ $ $ 63,000 6,000 16,000 21,000 2,300 15,000 158,000 160,000 5,800 31,000 55,000 84,000 73,500 45,000 36,200
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